How to Make Money Selling Luxury Cars
Luxury cars cost thousands of dollars and require expensive maintenance. Savvy shoppers are looking to the used market in order to save money on these big ticket items, and sharp marketing skills can bring them your way. If you sell more than five cars a year, you must have a license to sell them.
You need
- Used luxury car
- Detailing equipment
- Car cover
- Used car guide
- Camera
- Selling license (if you plan on selling more than five cars annually)
- Search out reasonably priced used cars. Look in the newspaper, Craigslist and eBay, as they all feature automobile sections. Search for Mercedes, Lexus and BMW, as they are the most popular models with the best resale value. Ideally, you are looking for a luxury car that needs minor repair and detailing work. Look at the Kelley Blue Book and Edmunds to get an idea of a good price and aim for a vehicle priced less than the anticipated value.
- Contact the seller of any car you find to arrange a test drive. Take a copy of the title for every car bought to the Department of Motor Vehicles to transfer the title to you.
- Detail each car thoroughly. Repair any minor damage, wash and polish the exterior of the vehicle, vacuum and clean the interior. Don’t forget to detail the tires and that the windows and mirrors shine. Keep the car covered after it is detailed to prevent damage.
- Use the guides to determine a fair asking price. Factor in your costs, as well as what you paid originally.
- Take at least three pictures of the car. Two from the front, at a 45-degree angle from the left and right, plus one from the back, straight on. The 45-degree angle showcases the car well.
- Post the car for sale in the local newspapers, online classifieds, eBay and Craigslist. Include the make, model, condition and price. Include photographs and correct contact information.
- Allow potential buyers to test drive and inspect the car. As a seller, mention the car's condition and price, noting any special details.